HomeMy WebLinkAboutKit Housing - 2011-10-19
KITCHENER HOUSING INC
MINUTES OF THE MEETING OF THE BOARD OF DIRECTORS
HELD:
Schmalz Room, City Hall, 200 King Street West, Kitchener
DATE:
October 19, 2011
TIME:
4:00 p.m.
PRESENT: ,
David Heintz, Corrine CashFrank Etherington, Carl Zehr, Ted Bleaney,
Bob McColl
RESOURCE
STAFF: ,
Karen KwiatkowskiIulian Anghel, Lori Trumper
ABSENT:
Christian Witt, Mike Seiling, Denny Cybalski, Bil Ioannidis, Andrew Head
Opening Remarks
1.
David Heintz, Vice Chair, called the meeting to order at 4:00 p.m.
Conflict of Interest
2. - nil
Approval of Agenda
3.
On a motion
by Corrine Cash, seconded by Ted Bleaney and CARRIED, the
agenda be approved.
Minutes
4.
Approval of Board Minutes – September 21, 2011
4.1
The minutes of the Board of Directors Meeting September 21, 2011 had been circulated
with the agenda.
On a motion
by Ted Bleaney seconded by Corrine Cash and CARRIED, it
was resolved that the minutes of the Board Meeting of September 21, 2011
be accepted as a true and correct record of the meeting.
Finance & Administration Business
5.
Financial Statements – September 2011
5.1
Financial Statements for the September have been circulated with the agenda. Lori Trumper
gave an overview of the report.
On a motion
by Carl Zehr, seconded by Ted Bleaney and CARRIED, the
September statements be approved.
2
Rental Arrears Report – September 2011
5.2
A verbal update was given by Lori Trumper. A Rental Arrears Report for September 2011
will be presented for information in November. There were three L1’s registered in October
for non-payment of rent. All three have Hearing Dates for early November.
A letter of engagement was signed in October commencing the services of Kingston Data &
Credit.
2012 ROW Operating Budget Submission
5.3
A summary of 2011 vs. 2012 budget information was circulated with the agenda. At the
September Board meeting, Directors were provided with indexed expense budget
information. The circulated summary provides the revenue budget information sent to the
Region of Waterloo.
On a motion
from Bob McColl and seconded by Ted Bleaney and CARRIED, the
2012 budget, as presented in the handout, be approved for manageable expenses at
$3,175,731, municipal taxes at $1,154,132 and mortgages at $4,232,104, totalling
$8,561,967 in eligible expenses. Revenues have been submitted as RGI revenues at
$1,786,653, market rents at $1,417,596 and RGI subsidy at $2,664,207. Total
subsidy assistance has been calculated at $5,407,125 for 2012 and submitted to the
Region of Waterloo accordingly.
Comparison of Costs to Implement Point of Sale Terminal (POS)
5.4
In order to reduce the amount of cash being received for monthly rent payments at head
office, a survey was conducted polling some of our current tenant population that “if debit
and/or credit card terminals were provided, would they find this a convenient means of
paying their monthly rent vs. cash”. Overwhelmingly the response has been positive.
Lori Trumper provided a handout of comparison costs from three providers showing
transaction costs and purchase costs of POS hardware.
Property Business -
6. was discussed in Caucus
Tenant Placement
6.1 – was discussed in Caucus
Property Maintenance Report
6.2 – was discussed in Caucus
2012 Capital Improvement Budget
6.3 – was discussed in Caucus
General Manager’s Report -
7.was discussed in Caucus
Chair updates
8. – was discussed in Caucus
Open Forum - nil
9.
Other - nil
10.
Adjournment
11.
On a motion
by, Bil Ioannidis seconded by Mike Seiling and CARRIED, the
meeting adjourned at 5.05 p.m.
ACCEPTANCE OF MINUTES
___________________________________ __________________________
Chairman Secretary